ChainCatcher report, according to Jinshi, U.S. wholesale prices recorded the largest consecutive increase since 2022 in May, with the PPI rising 1.1% month-over-month, exceeding the market expectation of 0.7%. Over the past 12 months, wholesale prices increased by 6.5%, marking the largest annual gain since the end of 2022. Despite rising costs, businesses have not fully passed on the additional expenses to customers, who are resisting higher prices. Steve Rick, Chief Economist at financial services provider TruStage, stated that inflation is becoming increasingly difficult to fully eliminate.
U.S. May wholesale prices rose 1.1% MoM, the largest increase since 2022
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Summary
U.S. wholesale prices rose 1.1% in May, the largest monthly increase since 2022, exceeding forecasts of 0.7%. Annual wholesale inflation now stands at 6.5%, the highest since late 2022. On-chain data indicates businesses are holding off on price increases as consumers resist higher costs. Steve Rick of TruStage says inflation is proving harder to eliminate. Traders are advised to monitor altcoins amid shifting market dynamics.
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